Founded in 1886 in New Brunswick, New Jersey, Johnson & Johnson is one of the largest pharmaceutical and medical technology companies in the world. In 2023, the company generated some 85 billion U.S. dollars of total revenue. The company is divided into two business segments: Innovative Medicine and Medtech. Johnson & Johnson's consumer health business was spun off in mid-2023, creating a separate company named Kenvue.
Pharma segment becomes increasingly predominant
Since 2014 the company's pharmaceutical segment has become increasingly predominant. Currently, pharmaceuticals are responsible for around 55 percent of the company's total sales. The strongest therapeutic areas within Johnson & Johnson's pharmaceutical segment are immunology and oncology. Johnson & Johnson is also active in the field of infectious diseases and vaccines. In February 2021, the company applied to the FDA (U.S. Food and Drug Administration) for an emergency use authorization for its COVID-19 vaccine. With this particular vaccine, there was a great level of excitement because it requires just one shot and does not need to be stored at ultra-cold temperatures.
No longer the most valuable company
For years, Johnson & Johnson was the top ranked biotech and pharmaceutical company in the world based on market capitalization, However, this changed in 2023, when Johnson & Johnson was overtaken by Eli Lilly. The company's employment saw a constant growth over the last two decades. At year-end 2022, it reported the highest number of employees so far, reaching nearly 153 thousand. Through the spin-off of its consumer health business, this number dropped to around 132,000 in 2023.
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